Leela Palaces Hotels & Resorts announces that its wholly-owned subsidiary, Schloss HMA Private Limited (SHPL), has received an assessment order. The order, issued by the Income Tax Department for the assessment year 2023-24, relates to an adjustment proposed by the transfer pricing officer. SHPL is currently in the process of filing an appeal. The company states that this order will not have a material impact on its financial or operational activities.
Assessment Order Details
Schloss HMA Private Limited (SHPL), a wholly-owned subsidiary of Leela Palaces Hotels & Resorts, received an assessment order on February 5, 2026. The order was issued under section 143(3) r.w.s 144C(3) r.w.s 144B of the Income-tax Act, 1961 by the Income Tax Department’s Assessment Unit.
Impact and Next Steps
The assessment order relates to a specific adjustment proposed by the transfer pricing officer, which has been considered a disallowance in the final assessment order. SHPL is preparing to file an appeal with the Commission of Income-tax (Appeals) to contest the assessment.
Minimal Financial Impact Anticipated
Leela Palaces Hotels & Resorts anticipates that the assessment order will not have a material impact on the company’s financial performance, operational activities, or other aspects of its business.
Source: BSE
